Sonae invests EUR 10m to merge retail units under single brand.

(ADPnews) - Mar 15, 2011 - Portuguese diversified holding group Sonae (ELI:SON) has invested EUR 10 million (USD 13.95m) to merge its retail units under a single brand.

The sole Continente brand for the retail activities of Sonae was launched today. All 176 stores of the group opened doors under this brand, marketing director, Miguel Osorio, said.

So far, Sonae had 40 hypermarkets Continente. Now, the brand was extended to the 110 supermarkets of the former brand Modelo and to another 26 stores previously known as Modelo Bonjour.

The advertising campaign for the change started today on TV channels, radio stations, print media, outdoors and in the Internet.

(EUR 1.0 = USD 1.395)